80,000 Shares in Waste Management, Inc. (WM) Acquired by MUFG Securities EMEA plc
MUFG Securities EMEA plc purchased a new position in shares of Waste Management, Inc. (NYSE:WM) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 80,000 shares of the business services provider’s stock, valued at approximately $6,262,000.
Other hedge funds also recently modified their holdings of the company. Bank of Nova Scotia increased its position in Waste Management by 23.4% during the first quarter. Bank of Nova Scotia now owns 411,484 shares of the business services provider’s stock worth $30,005,000 after purchasing an additional 78,100 shares during the last quarter. Intersect Capital LLC increased its position in shares of Waste Management by 33.1% in the second quarter. Intersect Capital LLC now owns 24,186 shares of the business services provider’s stock worth $1,774,000 after acquiring an additional 6,009 shares in the last quarter. Aviva PLC increased its position in shares of Waste Management by 1.0% in the second quarter. Aviva PLC now owns 277,131 shares of the business services provider’s stock worth $20,328,000 after acquiring an additional 2,710 shares in the last quarter. AXA increased its position in shares of Waste Management by 15.0% in the second quarter. AXA now owns 450,490 shares of the business services provider’s stock worth $33,044,000 after acquiring an additional 58,630 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Waste Management by 0.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,768,294 shares of the business services provider’s stock worth $129,703,000 after acquiring an additional 11,668 shares in the last quarter. 76.25% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on WM shares. Zacks Investment Research lowered shares of Waste Management from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. BMO Capital Markets reissued a “buy” rating and issued a $85.00 price objective on shares of Waste Management in a research report on Friday, October 13th. KeyCorp reissued a “buy” rating and issued a $88.00 price objective on shares of Waste Management in a research report on Friday, October 27th. Bank of America Corporation dropped their price objective on shares of Waste Management from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, October 5th. Finally, Credit Suisse Group set a $90.00 price objective on shares of Waste Management and gave the stock a “buy” rating in a research report on Monday, October 30th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Waste Management currently has an average rating of “Buy” and a consensus target price of $81.81.
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Shares of Waste Management, Inc. (NYSE:WM) traded down $0.61 during mid-day trading on Thursday, hitting $80.26. 2,363,900 shares of the stock traded hands, compared to its average volume of 1,674,989. The stock has a market capitalization of $35,115.06, a P/E ratio of 25.92, a PEG ratio of 2.63 and a beta of 0.76. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of 1.60. Waste Management, Inc. has a fifty-two week low of $68.84 and a fifty-two week high of $82.87.
Waste Management (NYSE:WM) last posted its quarterly earnings data on Thursday, October 26th. The business services provider reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.02. Waste Management had a net margin of 9.66% and a return on equity of 25.61%. The firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the prior year, the firm posted $0.84 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. research analysts forecast that Waste Management, Inc. will post 3.2 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.70 dividend on an annualized basis and a yield of 2.12%. Waste Management’s dividend payout ratio (DPR) is 54.84%.
Waste Management Profile
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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